Gold Rebounds as U.S. Dollar, Equities Drop

Mining stocks mostly posted modest gains

Gold climbed in Wednesday trading, countering a downward trend among global equities markets and a sliding U.S. dollar. Worldwide markets continued to sink on the heels of yesterday’s refusal by the Bank of Japan to increase stimulus efforts. The Japanese central bank’s move stoked investor uncertainty about whether the U.S. Federal Reserve will wind down its own economic stimulus efforts before the end of this year.

Gold futures for July delivery jumped 1.1% to $1,392.10 per ounce on Wednesday, according to CME Group. Gold traded as high as $1,393.80 and as low as $1,373.20. Gold bullion closed in London at $1,391, according to BullionVault.